Israeli developer security company Snyk has announced that it has agreed to acquire Israeli enterprise application security company Enso Security.
Enso Security, which was founded in 2020 by former Wix application security experts - CEO Roy Erlich, CPO Chen Gour Arie and CTO Barak Tawily has developed an Application Security Posture Management (ASPM) solution. The acquisition is subject to customary closing conditions and is expected to close in Q2 2023. No financial details were disclosed although Israeli media reports say that Enso Security, which has raised $6 million to date, is being acquired for $45-50 million.
Snyk is today headquartered in Boston and led by CEO Peter McKay and was founded by Israelis Guy Podjarny (president), Assaf Hefetz and Danny Grander. Founded in 2015, Snyk has developed a platform that identifies security breaches and open source licensing management issues for code and takes effective action.
The company raised $196.5 million Series G financing round last December, at a $7.4 billion valuation. This was only 12% below the valuation of $8.5 billion achieved in the company's financing round when it raised $300 million in September 2021
McKay said, "As DevSecOps becomes increasingly mainstream, Snyk is committed to continuing to build upon its market leadership by adding important new capabilities that allow security leaders to grow and manage their global developer security programs at scale. We look forward to welcoming the innovative Enso team as our newest Snykers. We are fully aligned in our shared vision to help more organizations stay ahead of their competition by increasing their pace of innovation securely by default."
Published by Globes, Israel business news - en.globes.co.il - on June 8, 2023.
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